Answer:
Option E. Control Activities
Explanation:
Control activities is a part of Control environment and in the given scenario, the company has a system of policies and procedures implemented to ensure whether the approved activities are carried out or not. This includes the segregation of duties, as the Compensation Committee is assigned the task to reviewing whether the payments that were made to the senior executives, both cash and equity based payments, are consistent with their contracts or not. Furthermore if it is not complied by the contract then relevant actions are carried out. So these are best represented by control activities.
Answer:
Predetermined overhead rate = $0.8 per hour
Overhead applied in December = $34,960
Explanation:
Predetermined overhead rate = Estimated manufacturing overhead / Estimated direct labor hours
Predetermined overhead rate = $416,000 / 520,000 hours
Predetermined overhead rate = $0.8 per hour
(as Direct labor cost is equal to total direct labor hours worked multiplied by the wage rate.)
Actual Labor hour = 43,700
Overhead applied in December = 43,700 hours x $0.8 = $34,960
Answer:
d. Reduce average Inventory
Explanation:
Inventory turnover ratio represents how quickly an entity's inventory is converted into sales and cash is generated.
Inventory turnover in days is computed as;
=
Inventory turnover ratio can be computed as:
=
Average stock =
wherein, Op stock = Opening stock
Cost of Goods Sold = Sales - Gross Profit
A reduction in the average inventory level would increase the inventory turnover ratio, and thus reduce the inventory conversion period from 80 days to a lower level.
Answer:
The linear sequential model of software development is
A reasonable approach when requirements are well defined.
Explanation:
This type of software development model, called the linear sequential model, is also known as the classic life cycle or waterfall model. The model suggests a systematic, sequential approach to Software Development, starting at a design level and progressing through the processes of communication, planning, modeling, construction, and deployment, till the final stage of support. The model is simple to understand and use. With this model, each phase must be completed before the next phase can begin and there is no overlapping in the phases. This is why requirements must be well-defined.
Answer:
knock knock.................................